TD Announces Pricing of USD Non-Viability Contingent Capital AT1 Limited Recourse Capital Notes

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TD Announces Pricing of USD Non-Viability Contingent Capital AT1 Limited Recourse Capital Notes /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } Canada NewsWire TORONTO , Sept. 12, 2025 /CNW/ - The Toronto-Dominion Bank ("TD") (TSX: TD) (NYSE: TD) today announced the pricing of a U.S. public offering of US$750 million 6.350% Fixed Rate Reset Limited Recourse Capital Notes, Series 6 (Non-Viability Contingent Capital (NVCC)) (the "LRCNs"). The LRCNs will be registered with the U.S. Securities and Exchange Commission (the "SEC"). The LRCNs will bear interest at a rate of 6.350 per cent annually, payable quarterly, for the initial period ending on, but excluding, October 31, 2030 . Thereafter, the interest rate on the LRCNs will reset every five years at a rate equal to the prevailing U.S. Treasury Rate plus 2.721 per cent. The LRCNs will mature on October 31, 2085 . The expected closing date of the offering is September 23, 2025 , subject to customary closing conditions. Concurrently with the issuance of the LRCNs, TD will issue 750,000 Non-Cumulative 6.350% Fixed Rate Reset Preferred Shares, Series 33 (Non-Viability Contingent Capital (NVCC)) ("Preferred Shares Series 33") to be held by Computershare Trust Company of Canada , as trustee for TD LRCN Limited Recourse Trust™ (the "Limited Recourse Trust"). In case of non-payment of interest on or principal of the LRCNs when due, the recourse of each LRCN holder will be limited to that holder's proportionate share of the Limited Recourse Trust's assets, which will consist of Preferred Shares Series 33 except in limited circumstances. TD may redeem the LRCNs on October 31, 2030 , and once every quarter-end thereafter, with the prior written approval of the Superintendent of Financial Institutions ( Canada ), in whole or in part on not less than 10 days' and not more than 60 days' prior notice to the LRCN holders. The net proceeds from this transaction will be used for general corporate purposes, which may include the redemption of outstanding capital securities and/or the repayment of other outstanding liabilities. The proceeds from this transaction are expected to qualify...

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